Petrol Prices Continue To Drop Across The Country

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The Australian Competition and Consumer Commission’s eighth report into the Australian petroleum industry shows that petrol prices decreased in the quarter ending September 2016.

Petro prices in Sydney, Melbourne, Brisbane, Adelaide and Perth decreased by 3.8 cents per litre in the September quarter to 114.2 cents per litre (cpl). The average price for the previous quarter was 118.0 cpl, and the annual average in 2015-16 as 121.7cpl.

“International factors continue to strongly influence the price at the bowser. A drop in refiner margins in the last quarter has helped to push prices down locally,” ACCC Chairman Rod Sims said.

“Australian motorists have benefited as prices have fallen, which will be especially welcome as we move into the busy holiday period.”

“A global comparison has also shown that Australian prices have remained extremely competitive by international standards as a result of the relatively low rate of taxation on fuel,” Mr Sims said.

“Despite these lower prices our message to all motorists is: continue to shop around and reward those retailers offering the best-priced fuel. This will help you, and also bring more competitive tension to the market.”